Christopher Wilson

Jay Surti

Mr.Nicolas Arregui

Mr.Mohamed Norat

Antonio Pancorbo

Jodi G. Scarlata

Eija Holttinen

Fabiana Melo

Rodolfo Wehrhahn

Mamoru Yanase

This paper reviews tools used to identify and measure interconnectedness and raises the awareness of policymakers as to potential cross-sectional implications of prudential tools aimed at controlling interconnectedness. The paper examines two sets of tools—developed at the IMF and externally—to identify the implications of interconnectedness in systemic risk and how these tools have been applied in IMF surveillance. The paper then proposes a preliminary framework to analyze some key internationally-agreed-upon and national prudential tools and finds that while many prudential tools are effective in reducing interconnectedness, the interaction among these tools is far less clear cut.

Concepts and Prudential Tools

Addressing Interconnectedness

Ms.Inci Ötker

Aditya Narain

Ms.Anna Ilyina

DISCLAIMER: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published to elicit comments and to further debate.

Impossible to Ignore and Difficult to Resolve

The Too-Important-to-Fail Conundrum

Jay Surti

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